This is one of those rare cases where the #USDCRC pair is placed in a position that will get you some profit no matter what happens. Currently it is moving downwards towards the 583 level it will meet a trend and possibly break towards an accumulation phase that will try to get back to the monthly level of 589. If the move cannot keep the trend and keeps falling within the wedge the lower possible price will be around 575 and then recover to the trend line above the 583 level. The other possible scenario is once it manages to reach the 589 level is the test the 609 weekly level which was the previous high level. Accordingly to the economic situation it is very likely that the #USDCRC pair will end up around 650 level so this is the last chance to buy at this lower levels.
You can follow the tradingview post to see how this trading pair will develop. Besides from the trading plan and the chart, there is also a special meaning that might affect it. For tourists and USD earners is the decrease in their acquisition power (which in fact affects me), Tourists might find that their USD are able to get them less stuff than they use to do when the #USDCRC pair was around 620. On the other hand it is a positive sign (but hardly to find its foundation) of the Costa Rican economy. If you are able to buy 1k USD with the possible price of 575 and then sell them for CRC once it reaches the 620 level again the possible profit will get you the following items:
55000 colones can get you one of the following:
- Around 60 costa rican beers
- A very fancy dinner for 2
- Possibly a night in a mid size hotel
- Sailboat trip and sunset watching
- Saprissa's jersey and possibly a ticket to go watch a game.
Anyways I'm just saying that it could be a week worth of work for the lower income bracket. So beyond economic analysis the real possibility to earn some income if you own #USD and be able to sell them later on for #CRC if you are going to make payments when them is possible and benefits can be sweet. On the other hand I cannot really imaging the happiness for those that have loans in #USD and are #CRC earners, this probably brought a smile to their face to see how this coming 2 months the possibility to pay a bit less for the same amount of #USD.
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